Self-test: Is the "Occupational pensions specialist with federal certificate" course the right one for me?

What does the day-to-day work of an employee benefits specialist with a federal certificate look like?

An employee benefits specialist works as a specialist in the field of occupational benefits in pension funds. They deal with issues relating to the financing of the benefits guaranteed by a pension fund (purchase into the fund, calculation of costs and pensions). Sometimes they also work for a pension fund, fiduciary or insurance company, bank or official office in the field of occupational benefits. In accounting, an employee benefits specialist has to handle bookkeeping, financial planning and monitoring in the service of capital investment: It is always about the optimal investment of salary percentages. The prerequisite for successful work in this profession is comprehensive knowledge of the legal basis and administrative organization.

The following areas of responsibility are typical for a pension fund specialist with a federal certificate:

• Supervision of investment processes
  • Accompanying investment strategy processes and supporting those responsible
  • Knowledge and use of traditional and non-traditional investment instruments
  • System monitoring and, if necessary, proposals for adaptation measures
  • Independent implementation of investment decisions
  • Making investment reports comprehensible for laypersons and assessing investment instruments
  • Knowledge and application of environmental, social and governance (ESG) criteria with regard to investments
• Take precautions
  • Responsible for administrative processes and actuarial management in the pension fund
  • Independent processing of entries and exits, vested benefits, advance withdrawals to finance home ownership and benefits in the event of divorce, retirement, death and disability
  • Supporting the Board of Trustees in decisions, preparing the necessary documents and answering technical questions
  • Managing employees, defining their tasks and objectives and reviewing them
• Cooperation with customers and other bodies
  • Comprehensive advice for insured persons on legal and actuarial issues relating to occupational pensions
  • Act according to the three-pillar concept of pension provision, know and pass on the provisions of other institutions such as social insurance and coordination rules
  • Managing correspondence with insurance partners, auditors and authorities

Target group and skills: Who is the further training course for pension fund specialists with a professional examination suitable for? What qualities and skills are required?

The further training course for pension fund specialists is aimed at the following people who:

• would like to continue their professional training and development in the area of employee benefits
• want to increase their career and salary opportunities with a federal certificate
• would like to prove their practical experience in occupational pensions with a recognized certificate

The following skills and characteristics are required for a successful job as an employee benefits specialist:

• Analytical and logical thinking
• Interest in economic issues
• Customer orientation and good manners
• Sense for numbers
• Leadership qualities and ability to work in a team
• Knowledge of mathematics and computer applications
• Organizational talent and service awareness
• Interest in monitoring and control
• Awareness of responsibility and danger
• Confidentiality

Prerequisites for admission to the professional examination for pension fund specialists:

The following prerequisites are required for admission to the final examination "Federal Professional Examination for Pension Fund Specialists":

• Completed basic vocational training as a commercial clerk EFZ, diploma from a commercial college recognized by SERI, high school diploma (all types) or equivalent qualification
• and at least 3 years of relevant professional experience, including at least one year in the field of occupational pensions

You will be informed in writing at least three months before the start of the examination whether you meet the requirements for the professional examination for occupational pensions specialists - in the event of rejection, including reasons and information on legal remedies.

Subject matter and content of the training course for pension fund specialists:

The subject matter of the preparatory courses for the professional examination for the certificate as a pension fund specialist is based on the specifications of the sponsor of the federal examination, the Swiss Pension Fund Association(ASIP).

The learning content of the further training course for pension fund specialists is divided into the following topics and areas of competence:

• Legal basis
  • Basic areas of law and legal concepts
  • Legal structure of the pension funds
  • Rights of insured persons and beneficiaries
  • Special areas and legal issues
  • Control and supervision
  • Administration of justice
  • Home ownership promotion / taxes
  • Network and coordination of social insurances
• Insurance technology
  • Financial mathematics
  • Statistics, probability and technical basics
  • Basic actuarial terms
  • Defined benefit plan
  • Defined contribution plan
  • Actuarial elements of the annual financial statements
• Accounting
  • Accounting and account systems
  • Accounting and account technology
  • Closing technique
  • Balance sheet
  • Operating and management accounts
  • Financial planning and financial monitoring
  • Reporting
  • Inspection body
• Investments by an employee benefits specialist - be able to take the necessary measures to ensure the smooth implementation of the investment strategy and appoint asset managers
  • Investment concepts
  • Investments in investment funds and investment foundations
  • Investments in shares
  • Nominal value investments
  • Types of business
  • Debtor quality
  • Markets
  • General conditions
  • Portfolio structures / performance
  • Options
  • Investments in real estate
  • Mortgage investments
  • Property management
  • Investment organization
• Pension fund management
  • Organization and management
  • Computer science
  • Admissions and portfolio management
  • Departures / Vested Benefits Act (FZG)
  • Services
  • Promotion of home ownership
  • Social insurances
  • Social insurance coordination
  • Accounting
  • Investments
  • External institutions

Employee benefits specialist training - costs and financing:

The cost of training as an employee benefits specialist varies depending on the provider and duration. On average, the following amounts are to be expected for the training costs:

• Course fees:about CHF 9'800.- to CHF 12'400.-
  After taking the exam, you will receive around 50% of this back from the federal government on application (regardless of the result)*.
• Examination fees:CHF 3,000 (as of fall 2023)
  The examination fee is set by the examination organizer. It is paid by the candidate after confirmation of admission to the federal examination for pension fund specialists.
• Extra costs:At some schools, the costs for enrolment fees, teaching materials, training documents, books, intensive exam training, simulation exams, school diplomas and interim qualifications, for example, are not included in the course fees. Please contact the provider of your choice directly to find out what additional costs you can expect for the course.

*Since 1.1.2018, preparatory courses for federal professional examinations such as the training course for pension fund specialists have been financially supported by the federal government. Graduates of these courses can therefore be reimbursed up to 50% (max. CHF 9,500) of the course costs paid after taking the federal examination. In cases of hardship, the federal contributions are also pre-financed in exceptional cases.

Duration of study, teaching times and learning effort for the occupational pensions specialist training for the professional examination:

• The training and continuing education program for occupational pensions specialists is classically structured (i.e. the professional examination covers all the skills to be assessed) and lasts two years. The training for the professional examination for employee benefits specialists comprises around 37 to 50 school days.
• Class times vary depending on the provider of the further training course for occupational pensions specialists. Classroom teaching usually takes place on practically every second Saturday. Participants prepare individually for the topics via preparation schedules.
• Thanks to the extra-occupational concept of the Occupational Pensions Specialist course, you can apply and deepen the learning material in practice straight away. Nevertheless, you should allow sufficient time for class preparation and follow-up as well as for self-study. Depending on your prior knowledge, working style and learning speed, we recommend that you allow the same amount of time for the additional workload as the regular course duration.

Note: Some schools offer so-called "taster lessons", which provide an insight into the lessons and the learning atmosphere. A suitable learning environment is important on the way to successfully completing the Occupational Pensions Specialist course.

Employee benefits specialist - degree, diploma and title:

The professional examination "Occupational pensions specialist with federal certificate" is held annually in German, French and Italian, provided that the minimum number of 15 candidates meet the admission requirements. Otherwise at least every two years.

Candidates for the professional examination for employee benefits specialists are notified at least 20 days before the start of the examination. The invitation includes the examination program (with details of the place and time of the examination as well as permitted aids) and the list of experts.

The professional examination for employee benefits specialists comprises the following six parts:

1. Law (written, 2 hours, single weighting) on competence area A: Laws, ordinances, regulations and directives
2. Insurance technology (written, 2 hours, single weighting) on competence area B: Preparing insurance technology data
3. Accounting (written, 2 hours, single weighting) on competence area C: Managing finance and accounting
4. Investments (written, 2 hours, single weighting) on competence area D: Helping to shape investment processes
5. Pension fund management Case studies (written, 4 hours, double weighting) on the areas of competence A to L - Area of competence E: Manage active insured persons and connections, Area of competence F: Process benefit cases and manage pensions, Area of competence G: Advise beneficiaries, Area of competence H: Support and accompany committees, Area of competence I: Ensure organization and personnel management, Area of competence K: Use and further develop information technology, Area of competence L: Support and acquire customers
6. Pension fund management (oral, 30 minutes, single weighting) covering the areas of competence A to L

Diploma and title

Graduates of the professional examination receive a federal specialist certificate and are entitled to use the federally recognized and protected title "Specialist in employee benefits with a federal specialist certificate" or "Specialist in employee benefits with a federal specialist certificate".

• In French: "Spécialiste de la prévoyance en faveur du personnel avec brevet fédéral"
• In Italian: "Specialista della previdenza in favore deI personale con attestato professionale federale"
• In English: "Specialist in Pension Fund, Federal Diploma of Higher Education" (Attention: This is only a recommendation/translation and not a protected title)